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Bitex, an Argentine startup that has been providing Blockchain financial services since 2014, launched its new service on August 23rd. Users will now be able to buy bitcoins with local currency, not only from Argentina but also from Chile, Uruguay, and Paraguay.

Bitcoin For Sale in the Southern Cone of Latin America

The financial startup based on the bitcoin blockchain announced that the platform will include the possibility of accessing the bitcoin (BTC) market through other currencies besides the dollar and Argentine pesos. Uruguayan pesos, Chilean pesos, and Guaranies are now trading pairs. Users can place orders in real time at any hour, every day of the year, as reflected by some Argentine portals.

Bitex adds local currency to your trading service. “From now until the end of the year, we will be launching this same service locally in Chile, Uruguay and Paraguay with the aim of giving as many people as possible access to the Bitcoin network through local currency and thus giving them the possibility of being part of this technological wave that promises to be as big or bigger than the Internet”, said Eduardo del Pino, CEO of Bitex, according to (translated from Spanish).

Manuel Beaudroit, Bitex’s Marketing Director, confirmed that the service is now available in Argentina and Paraguay and that in the next three months they will be enabling the Uruguayan and Chilean markets to fund their accounts.

This service enhances the local currency of each country as it is not necessary to use correspondent banking to make international payments. In this way, access to international trade is 100% democratized, boosting the local economy and allowing Latin American markets to have a hyper-flowing channel between them, improving the economic and commercial conditions of each country”, added Manuel Beaudroit, Bitex’s Marketing Director.

The company currently has a base of 50,000 users throughout Latin America, who have access to their personal and institutional solutions for both investment and bitcoin protection, as well as international funds logistics services. According to Beaudroit, with the launch of this new exchange platform, they hope to double the number of users in the coming months.

Being conservative we believe that in the coming months we can reach another 50,000 users but with the potential to impact the 500,000 potential customers in these countries in the coming year,” Beaudroit said.

LatAm Investors Seek to Diversify Portfolios

On the possibility of expanding into more Latin American markets, Beaudroit said the vision of the startup is to provide access to those who want to enter the bitcoin economy.

Another of the directors, Francisco Buero, Bitex’s operations director, told the local Ambito that the new service is aimed both at large investors in the financial sector who are looking to diversify their portfolios through bitcoin, and at retailers “who are confident that these cryptocurrencies are the future.” He also pointed out that regulatory institutions, such as the Central Bank, are in favor of listening to proposals for financial technologies aimed at the banking of citizens.

Bitex is known for its alternative service to the Swift system for international transfers via Blockchain. Last May, Bitex announced an alliance with the Argentine bank Masventas to offer a service that uses bitcoin for cross-border payments. The tool enables you to make or receive multiple, simultaneous payments in local currency in more than 50 countries.